Inflation in Argentina roars past 100% for the first time since 1991
Inflation in Argentina hits 100% for the first time since 1991 with prices more than doubling since February last year
Inflation in Argentina has passed 100 percent for the first time since 1991.
Prices were 102.5 percent higher last month than in February last year, meaning they more than doubled.
“There’s just nothing left, there’s no money, people have nothing, so how do they buy?” said Irene Devita, 74, in Buenos Aires.
Rising inflation: A woman walks past a grocery store in the Argentine capital of Buenos Aires. Prices in Argentina were 102.5% higher last month than in February last year
‘The other day I came by and asked for fruit and half a kilo of tomatoes. When he told me it cost 650 pesos, I told him to take everything out and leave only the tomatoes because I don’t have enough money,” Devita added.
The government has unsuccessfully tried to contain prices, which are eroding earning power, savings, economic growth and the ruling party’s chances of staying in power in elections later this year.
Inflation leads to frustration and anger as salaries often lag the cost of goods despite government plans to restrain prices and restrict grain exports.
Shopper Patricia Quiroga, 50, said inflation was unbearable. “I’m just tired of all this, of the politicians fighting while the people are starving,” she said.